India's Indraprastha Gas rises on margin expansion guidance

Indraprastha Gas

28/04/2025 10:34

** Shares of Indraprastha Gas IGAS.NS up 4% at 185.70 rupees
** City gas distributor on Sunday reported 9% fall in Q4 profit from a year ago, hurt by one-off expenses of 1.14 billion rupees
** Co on Monday told CNBC-TV18 it is looking at medium-term margins of 7-8 rupees on possible price hikes, despite a fall to 4 rupees this quarter
** City gas distributors such as IGAS have suffered margin erosion due to lower allocation of subsidized gas from government, buying gas at spot markets at higher rates
* IGAS down 14% YTD, while rivals Adani Total Gas ADAG.NS is down 18% and Mahanagar Gas MGAS.NS up ~ 4% YTD

(Reporting by Sethuraman NR in Bengaluru)

((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net ))